Brand New Home Buying Tips

If you have always fantasized about buying a brand new home of your dreams, here are a few tips that can help you to protect yourself -- to make the process a pleasant experience.

Hire Your Own Agent
  
  -  Your own agent will represent you, be your fiduciary and is required to 
     disclose the positives as well as the negatives about the transaction. Builder's 
     agents don't discuss drawbacks.

Don't Automatically Use the Builder's Lender

 -  Builders often prefer their own lender because the builder will be kept fully 
    informed of your personal progress; it's one-stop shopping for a builder. But a
    builder's lender might not offer you the best deal. Moreover, the builder may 
    own the lending company.

Obtain Legal Advice Before Buying a Brand New Home

 -  Before you sign a purchase contract, talk to a real estate lawyer. Standard 
    purchase agreements are designed to keep everybody out of court, but they 
    don't necessarily contain language that protects the buyer.

Verify Option and Upgrade Pricing

 -  Determine which options and upgrades you want. Bear in mind that for many 
    builders, the profit margin is highest in upgrades. Some builders can sell a home
    for almost bare construction cost because they make the bulk of their profit in
    the upgrades.

 -  Find out whether your lender will lend on all the options / upgrades you have 
     chosen. If your lender will not finance 100% of your selections, you will be 
     required to pay for it in cash

Check Out the Builder's Reputation

 -  If a buyer has a bad experience with a builder, the word spreads rapidly
    throughout a community. But you won't know if a bad rep is an isolated  
    experience or if the builder repeatedly brings bad publicity to itself without
    checking and verifying the public records for lawsuits.

Hire a Home Inspector

 -  Always, always, always get a home inspection when you buy. And hire a
    licensed and accredited individual to perform the inspection -- not your dad or  
    your buddy contractor, get a real inspector. Be there for the inspection and ask
    questions because a new home can contain defects. The HVAC system might  
    be too small or the plumbing could be installed backwards. Construction
    workers make mistakes.

-  If the inspector calls for further inspection by another professional contractor,
    find out if the inspector is telling you there could be a serious issue or if the
    inspector isn't licensed to address that issue.

For More Buying Help:
“Katie K Team”
RE/MAX Northwest
281-384-4386 cell
281-893-8400 x217 office
832-553-7792 fax
www.FreeHoustonTxHomeInfo.com
www.HoustonHomeSoldGuaranteed.com"Your
Home Sold At a Price Acceptable To You Guaranteed or I Buy It For Cash!"